The Price of Gold Soars Past $2,100 to New Record and Analysts Do Not Think It Will Stop There

For the second day in a row, gold prices broke beyond $2,100 on Monday, as the world’s appetite for metal looks certain to persist.

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Analysts predicted that due to geopolitical unpredictability, a probable decline in the value of the US dollar

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The Israel-Palestine conflict has increased demand for the safe-haven asset, which has led to a two-month gain in yellow metal prices.

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Additional support has come from anticipation of interest rate decreases.

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Because it is a dependable store of value, gold typically does well in uncertain times, both economically and strategically.

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The anticipated retreat in both the USD and interest rates across 2024 are key positive drivers for gold.

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